According to TechFlow, Canadian securities regulators have extended the compliance deadline for cryptocurrency trading platforms to the end of 2024. Previously, the deadline was scheduled to expire in October this year.

The Canadian Securities Administrators (CSA) said the move was due to ongoing concerns about stablecoin risks and made investor protection a top priority. The new deadline gives exchanges more time to meet regulatory requirements or come up with safer alternatives. If the platform fails to comply by the end of the year, it may face penalties including a ban on providing certain products to Canadian users.

In recent years, several major global exchanges, including Binance, KuCoin and Poloniex, have been forced to exit the Canadian market. Despite the challenges, licensed exchanges such as Kraken, Coinbase and Bitget continue to operate under stricter regulations.